Stocks rally hard after Nvidia tops estimates, jobs data in view

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Stocks rally hard after Nvidia tops estimates, jobs data in view

By Gregor Hunter
Publication Date: 2025-11-20 01:13:00

  • Nikkei surges 3.9%, Kospi gains 2.8%, S&P futures up 1.2%
  • Nvidia up 4.9% after-hours after forecasting revenue well above estimates
  • Fed rate-cut odds fall with delayed jobs data in focus

SINGAPORE, Nov 20 (Reuters) – A relief rally swept across Asian markets and lifted stocks in early trading on Thursday as investors cheered Nvidia’s market-topping earnings, while the dollar rose as traders braced for the release of delayed jobs data.

MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab was up 0.6%, rebounding from a one-month low, after Nvidia (NVDA.O), opens new tab forecast quarterly revenue well above Wall Street estimates on Wednesday. CEO Jensen Huang touted blockbuster demand for its AI chips from giant cloud providers and shrugged off concerns about an AI bubble.

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S&P 500 e-mini futures (.SPX), opens new tab rose 1.1%.

Nvidia “delivered yet another master class in AI dominance,” said Tony Sycamore, market analyst at IG in Sydney.

Stocks on Wall Street had snapped a four-day losing streak on Wednesday before the earnings release. All three major indexes rebounded from the selloff as the world’s most valuable company’s earnings report tempered the AI valuation fears that had triggered the rout.

The U.S. dollar index , which tracks the greenback’s strength against a basket of six major peers, advanced 0.1% to 100.17, hovering close to a two-week high.

The yield on benchmark 10-year Treasury notes rose to 4.1444% compared with…

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